Caravelo raises €3.5M series A led by Samaipata
The new investment brings Caravelo’s total raised capital above the €6M mark
BARCELONA – Sept 14, 2023 – Caravelo, a travel-tech company that provides subscription solutions to the travel industry, announced the closure of 3.5M EUR in a Series A round of funding led by Samaipata with the participation of Adara Ventures and other existing investors.
The Barcelona based company was founded in 2015 by Iñaki Uriz and José Luis Vilar, and has worked with more than 20 airlines, including Volaris, Alaska Airlines and Wizz Air. The company was also recently selected as one of the 13 highest-potential scale-ups in Spain.
Today’s announcement represents one of the largest early-stage investments in Samaipata’s history and is a testament to Caravelo’s growth potential and unique position in the travel subscription market. Luis Garay, Partner at Samaipata, stated that “Caravelo’s product is miles ahead from anything else out there, and is the only logical, enterprise-grade, choice for travel subscriptions.” He added, “The company’s positioning as an industry leader, and their impressive pipeline, makes it a very attractive investment for us”.
The increasing demand for Caravelo’s solution and the success stories of clients like Alaska and Volaris, were also mentioned by Adara Ventures as key factors in the decision to expand their investment. Ross Strachan, Principal at Adara Ventures, stated that “Caravelo is well-positioned to take advantage of the increasing popularity of travel subscriptions, and we are proud to continue supporting the team through this next phase of growth.”
Commenting on the news, Caravelo’s CEO Iñaki Uriz said that “This investment will give Caravelo the tools it needs to meet the growing demand for travel subscriptions, allowing us to continue the expansion of the team and the development of our platform”.
José Luis Vilar, the company’s co-founder and CPTO added that this success has been the latest in a growing streak of good news that saw revenue grow more than 100% YoY for the past 3 years, and the company valuation increase 50% in the past year.
The funding round follows a series of recent commercial successes for the company, including the announcement of the first all-you-can-fly subscription in Latin America and the first true flight subscription in Europe.
For more information, please contact Marco Serusi, Caravelo’s Marketing Manager, at email@example.com.
Caravelo is a travel-tech company that provides subscription solutions to the travel industry. It helps clients increase revenue and market share while also improving crisis resilience, reducing the impact of seasonality and creating a better customer experience. The SaaS company has been providing flight subscriptions solutions and know-how to airlines since 2015 and is currently the only company in the world that can create and manage true flight subscription programs.
About Adara Ventures
Adara Ventures invests in ambitious businesses, partnering with founders with the capacity, courage, and vision to execute. In the last 18 years, the firm has invested in 43 companies and manages €200m. Focused on early-stage companies and with a European footprint, Adara’s portfolio includes companies dedicated to cybersecurity, data applications and infrastructure, DevOps, hardware components, digital health, and the energy transition. For more information, visit www.adara.vc.
Samaipata is an early-stage founders’ fund investing in digital businesses with network effects across Europe.
Founded in 2016 by José del Barrio and Eduardo Díez-Hochleitner, the firm has a presence in Madrid, Paris, and London. To date, Samaipata has supported 35 European companies through two investment funds, totaling over €150 million in assets under management. For more information, visit www.samaipata.vc